Crude prices was seen trading higher on Thursday, after the Federal Reserve (Fed) signaled that interest rates might increase in 2015 and government reports showed that crude inventories in Cushing dropped for a seventh week. The North American WTI crude for April delivery advanced 0.14% higher trading at $99.31 per barrel on the New York […]
General overview for 21/03/2014 07:10 CET There is not much of an impulsive wave development to the downside yet, so the alternate count of a triangle can not be ruled out. Only a sustained breakout below the intraday support at the level of 1.1230 would open the road to the next important support at the […]
General overview for 21/03/2014 07:00 CET As I mentioned yesterday, the possibility of a triangle wave b red was very high and a downside breakout was anticipated. The key level to the upside is the level of 141.27 and any breakout higher above this level means that weekly pivot and even the intraday resistance level […]
In Asia, Japan will not release any economic data’s because of the Bank Holiday and the US will not release any statistics too. So there is a big probability the USD/JPY will move with low or medium volatility during this day. TODAY’s TECHNICAL LEVELS: Resistance. 3: 102.86. Resistance. 2: 102.66. Resistance. 1: 102.46. Support. 1: […]
Daily chart: The USDX is consolidating above the support level of 80.11. Now, it is very likely that the USDX attempts to climb to the resistance level of 80.62. On the other hand, it’s expected to start forming a lower high pattern above this level. The USDX remains below the 200 SMA and MACD is […]
Daily chart: GBP/USD made a breakout at the support level of 1.6540, so it is very likely that during today’s session, the pair will begin to form a bearish pattern since the GBP/USD had a recent lateralized drop days ago. The objective of this pair in our bearish outlook is bullish trend line near the […]
When the European market opens, some economic news will be released such as Current Account, Consumer Confidence. Today the US will not release any economic data, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY’s TECHNICAL LEVELS: Breakout BUY Level: 1.3847. Strong Resistance:1.3838. Original Resistance: 1.3825. Inner Sell […]
EUR/USD has given up after struggling for many days and divergences. It made an attempt to go above the falling trendline from the 2008 high and failed forming a 5-month long ending diagonal which might mean a major trend reversal for the euro that has been rising since July 2012. 1.381 is the near-term support, […]
The dollar index finally broke out of the wedge it’s been forming for days. It went on extending to the point you would expect the dollar to collapse, but for the euro’s critical level of 1.396 that I also showed could be a key trend reversal level. Finally, we have a breakout that could mean […]
Forecast: According to the previous events, the price of the EUR/USD pair has still been moving between 1.3836 and 1.3768. The level of 1.3836 is representing the double top, and the weekly resistance 1 is set at the same level. Consequently, sell above the price of 1.3836 in the short term with the first target […]
The daily pivot point: 0.9027. Trading recommendations: The resistance has set at the price of 0.9140 and the support, at the 0.9010 price. So, according to the previous events, the AUD/USD pair is going to move between the resistance and the support. As a rule, history will probably repeat itself at this level again. Therefore, […]
Previous congestion zone between 1.0850 and 1.0960 provided a considerable support at retesting on February 19. This led again towards 1.1190 where the USD/CAD pair established a consolidation zone between 1.0960 and 1.1190. Yesterday, the USD/CAD pair expressed obvious bullish momentum that led to bullish breakout above 1.1190-1.1220. Daily fixation above 1.1200-1.1230 (Weekly 50% Fibonacci […]
As depicted on the chart, the nearest demand level around 50% Fibonacci at 1.6540 was broken down. The Double-Top pattern scenario is being executed with the neckline located around 1.6600-1.6580. Daily fixation below this neckline will enable the pair to reach 1.6350 as a projection target. During the past few days, the GBP/USD pair has […]
The Currency market analysis for Mar 21, including significant events likely to affect the markets, buy and sell points and market calendar. My Technical Analysis Summary – Mar 21, 2014 02:11AM (GMT -4:00, DST On) Symbol Type 5 Minutes 15 Minutes Hourly Daily EUR/USD 1.3786 Moving Averages: Buy Buy Sell Neutral Indicators: Strong Buy Strong Buy Buy […]
USDCHF: With USDCHF falling to hold on to its intra day gains to as high as the 0.8868 level and turning lower during Thursday trading session, the risk is for the pair to decline further. This is coming on the back of negative candle (shooting star) formation on the daily chart. Immediate support lies at […]
Successive ascending bottoms were established on the daily chart. This means the uptrend line established in September 2013 is still intact. Price level of 1.3900 corresponding to 100% Fibonacci Expansion has been successfully hit a few days ago. After topping at 1.3965, the EUR/USD pair showed indecision that continued for a few days. This was […]
Overview: USD/JPY is expected to trade in a higher range. It is underpinned by the positive dollar sentiment (ICE spot dollar index last 80.01 versus 79.37 early Wednesday) after the Federal Reserve tapered its bond-buying program by another $10 billion to $55 billion a month, as expected, but pointed to earlier interest rate rises as […]
Janet Yellen’s first press conference at the Central Bank’s helm was going smoothly until she said they’d begin hiking rates from record lows six months after it completes its bond-buying program. These are the kind of words that markets cannot ignore and we saw a direct impact on stock and indices markets. Well, the first […]
Janet Yellen’s first press conference at the Central Bank’s helm was going smoothly until she said they’d begin hiking rates from record lows six months after it completes its bond-buying program. These are the kind of words that markets cannot ignore and we saw a direct impact on stock and indices markets. Well, the first […]
Overview: USD/CHF is expected to trade in higher range. USD/CHF is underpinned by the positive dollar sentiment, franc sales on buoyant EUR/CHF cross and drop in Switzerland ZEW-Credit Suisse indicator of economic sentiment to 19.0 in March from 28.7 in February. Daily chart is positive-biased as MACD and stochastics are turned to bullish. Trading recommendation: […]
Overview: GBP/JPY is expected to trade with risks skewed lower. It is undermined by the negative risk sentiment and Japan’s exports sales. But GBP/JPY losses are tempered by the buoyant USD/JPY undertone, demand from the the Japanese importers and loose BOJ’s monetary policy. Daily chart is mixed as MACD histogram bars are turned negative, but […]
Overview:The NZD/USD pair is expected to trade in lower range. It is undermined by the positive dollar sentiment and Kiwi sales on the NZD/JPY cross amid weaker investor risk appetite. But NZD/USD losses are tempered by the Kiwi demand on soft AUD/NZD cross and hawkish Reserve Bank of New Zealand’s monetary policy stance and slightly […]
Hello eTorians!! The most interesting fact in the last week was the interest rate by the Royal Bank of New Zeland, which push NZD to the sky. The USD seems to be quite weak on all other currencies. Most of the Social Investors in eToro are busy protecting their old positions, managing their account and […]
The USD/JPY pair received a sharp boost in the mid-week session, as rate hike expectations in the United States broadened support for the greenback. The Federal Open Market Committee wrapped up its two-day policy meetings by announcing further stimulus cuts. The Fed will ease the pace of monthly asset purchases by $10 billion, bringing the […]
The North American pair soared in the mid-week session, as an expected decision by the Federal Reserve firmed up support for the US dollar. The pair set a fresh 52-week high in the latter half of the week, as investors continued to pour into the greenback at the expense of most other currencies. The Canadian […]
Europe’s top pair fell to the lowest level in more than a week, as the markets continue to correct from a three-month high. The pair broke below the 10-day simple moving average in the latter half of the week, as the euro continued to weaken across the board. The forex market received a heavy dose […]
The GBP/USD continued to pare gains in the latter half of the week. The pair strengthened in the mid-week session after the UK posted strong employment data. However, the gains were short-lived, as the pair began backtracking following the Federal Open Market Committee press conference. The UK claimant count rate fell by 34,600 in January, […]
The EUR/USD was backtracking in the latter half of the week, as investors continued to react to the Federal Open Market Committee’s decision to taper asset purchases by $10 billion. The decision followed two months of disappointing economic data, a sign the central bank plans to taper bond purchases consistently throughout the year. Fed Chair […]
Overview Today, 4H chart show that yesterday’s closing below the resistance level of 169.75 gives the price an opportunity for a bearish move. As shown here, currently, the price is reversing its bullish trend of yesterday trying to continue its bearish move by breaking the support level of 168.50 and closing below it. In that […]
The dollar maintained its strength on Thursday after Fed Chair Janet Yellen’s comments on Wednesday. The prospect of tighter monetary policy in the US sooner- than- thought, resulted in a sell-off in equity markets, hurting risk appetite. During a post-FOMC statement press conference, Yellen made specific reference to when she thought the Fed would begin […]
